Acron buys Gehry building in Düsseldorf
The real estate investor Acron has acquired the commercial property Neuer Zollhof 1 in Düsseldorf's Medienhafen. The building is part of an ensemble of three structures designed by Frank O. Gehry.
The Neuer Zollhof ensemble by the famous architect Frank O. Gehry was completed in 1999 and is considered a landmark of the North Rhine-Westphalian state capital Düsseldorf.
The office building acquired by Acron is also known as the "Red Gehry" because of its red facade. It is located directly on the waterfront of the Medienhafen and offers office space especially for medium-sized and smaller companies. The building also houses the popular Meerbar. There are hotels and restaurants in the immediate vicinity, and the seat of the state government of North Rhine-Westphalia and the state parliament are also nearby.
An AIF under Luxembourg law was established for the investment. Acron plans to upgrade the building's interior space and successively increase rents to market levels as a result.
According to Acron, Düsseldorf is one of the four economically strongest metropolitan areas in Germany. The market for office real estate is characterized by high demand and a growing shortage of supply. (ah)
